Cement News tagged under: China
Anhui Conch Cement reports decline in operating profit30 October 2015, Published under Cement NewsOperating profit at Anhui Conch Cement fell 31 per cent YoY to CNY7.05bn (US$1.1bn) in the nine months through September on the back of weaker demand and pricing competition. Revenue dropped 13 per cent to CNY37.9bn, the Shanghai-listed company reported Tuesday. |
Anhui Conch28 October 2015, Published under Cement NewsChina's cement producers, including Anhui Conch, will be watching closely to see if recent economic measures by the country's government result in the desired calming of the economic nerves. “The Chinese decision indicates that the authorities are clearly worried about the slowdown in the pact of economic growth and have decided to engage in more pre-emptive action,” says Sanjiv Shah of Sun Global Investments speaking to The Guardian. A slump in imports raised new concerns over the outloo... |
China Resources Cement nine-month net profit drops 61%26 October 2015, Published under Cement NewsChina Resources Cement said its profit attributable to owners for the nine months ended 30 September 2015 dropped 60.6 per cent YoY to HKD1282.2m. Turnover was HKD19,752m, a decrease of 15.5 per cent from a year earlier. The consolidated gross margin for the period was 24.4 per cent, representing a decrease of 6.7 percentage points from 31.1 per cent for the corresponding period last year. The decline was mainly attributable to lower selling prices of cement and clinker as compared with th... |
CNBM issues 9M15 profit warning22 October 2015, Published under Cement NewsChina National Building Materials (CNBM) warned investors that its nine-month profit will likely plunge 80 per cent from a year earlier, implying that 3Q15 slipped into losses. CNBM blamed weak cement prices driven by a slowdown in demand and severe industry overcapacity. Barclays notes the profit alert points to a loss of CNY0.02 per share in the third quarter. It said that the profit warning is disappointing as it indicates cement prices in 3Q15 were weaker than expected by market. The ... |
Two China Shanshui Cement shareholders make deposit for proposed acquisition19 October 2015, Published under Cement NewsTwo shareholders of China Shanshui Cement Group Ltd have made a deposit for their proposed acquisition, Bloomberg reports. China National Building Material Co. and Taiwan’s Asia Cement Corp, which combined hold 37.6 per cent in Shanshui, each put in US$700m at Hong Kong’s Securities and Futures Commission on 11 August as cash confirmation for the general offer, Doris Wu, chief financial officer of Asia Cement told Bloomberg. The two companies reiterated on 9 October that they’re still consi... |
Shareholders of China Shanshui Cement Group vote to keep chairman15 October 2015, Published under Cement NewsShareholders of China Shanshui Cement Group Ltd have voted to keep Chairman Zhang Bin at a meeting in Hong Kong Tuesday, Bloomberg reports. The Shandong-based group held an extraordinary general meeting (EGM) during which a proposal from its largest shareholder – peer Tianrui International Holding Co – to get rid of Zhang was rejected after receiving a 99.9 per cent no vote, according to statement to Hong Kong stock exchange today. Tianrui International, which has a 28.16 per cent interest,... |
China: BBMG to issue CNY1bn medium term notes09 October 2015, Published under Cement NewsCement producer and property developer BBMG Corporation announced that it will issue CNY1bn (US$157.6m) medium term notes on the interbank market on 14 October 2015 to be used to repay bank loans. The corporation said in a statement that the medium term notes will be issued at the face value, and the coupon rate determined in the process of bookbuilding. The issue may be redeemable on the fifth year, but, if it continues, there will be a new adjusted rate. Both value date and payment due d... |
China Resources Cement issues profit warning07 October 2015, Published under Cement NewsChina Resources Cement (CRC) has said that based on the preliminary assessment of the group’s unaudited consolidated management accounts for the nine months ended 30 September 2015, attributable profit during the period is expected to "significantly decrease" as compared with that of 9M14. The decline is primarily attributable to lower selling prices of cement and clinker in China compared with the year before, as well as the depreciation of Renminbi against other currencies since the begin... |
Chinese imports lower Costa Rica’s cement price by 20%30 September 2015, Published under Cement NewsConstruction costs in Costa Rica are lower due to the import of Chinese cement, according to local news service La Republica. Chinese imports retail at around 20 per cent below cement produced locally by Cemex and Holcim. However, to date the imported cement has not received certification of compliance with domestic standards although initial samples have proved positive. Cement is imported from Sinocem via local company JCB. Sinocem exports nearly 2Mta to various destinations. Cement im... |
Shangfeng Cement to raise funds for expansion29 September 2015, Published under Cement NewsChinese cement producer Shangfeng Cement Co Ltd announced Tuesday to raise no more than CNY1.5bn (US$235.78m) via private placement for overseas expansion. The company will issue no more than 161.12m shares at a price of 9.31 yuan per share. The money will be earmarked to invest in two overseas projects including a 3200tpd line in Tajikistan and a 3200tpd line in Uzbekistan. According to the feasibility study report, the annual revenue and profit of the production line in Tajikistan is ex... |